question archive Moore went to First National Bank and requested that the president of the bank allow his adult sons, Rocky and Mike, to open an account in the name of Texas Continental Express, Inc
Subject:ManagementPrice:3.87 Bought7
Moore went to First National Bank and requested that the president of the bank allow his adult sons, Rocky and Mike, to open an account in the name of Texas Continental Express, Inc. Moore promised to bring his own business to the bank and orally agreed to make good any losses that the bank might incur from receiving dishonored checks from Texas Continental. The bank then furnished a regular checking account and bank draft services to Texas Continental. Several years later, Texas Continental wrote checks that were returned for insufficient funds. The amounts of those checks totaled $448,942.05. Texas Continental did not cover the checks and the bank turned to Moore for payment.
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